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Nissan issues statement on GM after board meeting

by Nick Aziz

Nissan has issued a second statement on the proposed Renault-Nissan-GM alliance (see original report): "The Board of Directors of Nissan Motor Co., Ltd, met today. The meeting was chaired by Nissan President and CEO Carlos Ghosn and included discussion on the events following the initiative taken by Tracinda Corporation regarding General Motors forming a new alliance with Renault and Nissan. The Board of Directors approved that Nissan should proceed with exploratory discussions concerning a potential alliance with General Motors, if General Motors Corporation supports and endorses the proposal made by its shareholders. The Board of Directors delegated all the necessary powers to the Chairman of the Board, President and CEO, Carlos Ghosn, to conduct any discussions and negotiations on this matter."

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